Enterprises in the food industry should increase their investment in technology, develop new products, and ensure food safety and hygiene to meet consumer needs and satisfy technical barriers in markets as part of measures to boost exports, according to analysts.

Local businesses face many technical barriers in export markets and need to improve production quality to meet standards, which are very important when exporting products to global markets, Ms. Nguyen Thi Chan, Head of the Food Department at Germany’s TUV SUD Vietnam Co., Ltd., told a recent conference on strategy and challenges for businesses in the food industry when participating in the global market.

The conference saw the participation of nearly 200 local and foreign enterprises.

A representative from the Investment and Trade Promotion Center (ITPC) of Ho Chi Minh City said there remains much potential for Vietnam’s food industry to develop. Its food processing sector holds the largest proportion in the processing industry and is growing strongly. Food currently accounts for the highest share of monthly consumer spending in Vietnam.

Many sectors in the food and foodstuff industry have contributed over $1 billion to Vietnam’s annual export revenue, particularly seafood, with turnover exceeding $10 billion last year.